BCHUSD Blasts Past $500: Bull Run Eyes $640 Target

BCHUSD breaks significant resistance $500 after a long consolidation. It hits an intraday high of $524.59 and is currently trading around $522.46. Overall trend is bullish as long as the support $435 holds.

 The pair holds above the short-term (34 and 55-day EMAs) and above the long-term moving average (200-day EMA).

The near-term resistance is around $550; any indicative breach above will take the pair to $600/$640/$715. On the lower side, immediate support is $480, and any violation below targets $435/$400/$377/$349/$325.

Indicators ( Daily chart)

Directional movement index - Bullish

It is good to buy on dips around $515-517 with SL around $480 for TP of $640.